Executives of LG Chem and Huayou Group pose for a photo after signing an agreement to build an LFP battery materials plant in Morocco on Sept. 22. [LG CHEM] LG Chem and Huayou Group will together build a lithium-phosphate-iron (LFP) cathode materials plant in Morocco in the latest efforts to target the high-demand, low-price EV market. The Korean company said on Sunday it signed a memorandum of understanding with Huayou Group to build a total of four battery materials factories including a plant to make LFP cathode materials in Morocco, which will have a 50,000-ton of production capacity per year.

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